DA Davidson Increases Federal Signal (NYSE:FSS) Price Target to $84.00

Federal Signal (NYSE:FSS) had its price objective raised by DA Davidson from $82.00 to $84.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the conglomerate’s stock.

Several other equities analysts also recently issued reports on FSS. Raymond James cut their price objective on shares of Federal Signal from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. StockNews.com downgraded shares of Federal Signal from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st.

Federal Signal Trading Up 0.6 %

NYSE FSS opened at $87.12 on Monday. Federal Signal has a 52 week low of $66.47 and a 52 week high of $102.18. The company has a 50 day moving average price of $77.12 and a 200 day moving average price of $87.95. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.19. The firm has a market cap of $5.31 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.85 and a beta of 1.23.

Federal Signal (NYSE:FSS) last issued its quarterly earnings data on Wednesday, April 30th. The conglomerate reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. Federal Signal had a return on equity of 18.46% and a net margin of 11.57%. The firm had revenue of $463.80 million during the quarter, compared to analyst estimates of $462.63 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Federal Signal will post 3.34 EPS for the current fiscal year.

Federal Signal announced that its board has approved a stock repurchase plan on Tuesday, April 22nd that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the conglomerate to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Federal Signal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, May 16th. Federal Signal’s dividend payout ratio is presently 16.37%.

Insider Buying and Selling

In other news, CEO Jennifer L. Sherman acquired 1,250 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $82.32 per share, with a total value of $102,900.00. Following the purchase, the chief executive officer now directly owns 559,183 shares of the company’s stock, valued at $46,031,944.56. This trade represents a 0.22 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Federal Signal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Federal Signal by 338.7% during the 3rd quarter. Barclays PLC now owns 145,188 shares of the conglomerate’s stock valued at $13,569,000 after acquiring an additional 112,092 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Federal Signal during the third quarter worth approximately $46,000. Tidal Investments LLC increased its position in shares of Federal Signal by 19.1% in the third quarter. Tidal Investments LLC now owns 3,174 shares of the conglomerate’s stock valued at $297,000 after buying an additional 510 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Federal Signal by 26.7% during the 3rd quarter. Franklin Resources Inc. now owns 638,253 shares of the conglomerate’s stock worth $59,523,000 after buying an additional 134,457 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Federal Signal by 1.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 169,352 shares of the conglomerate’s stock valued at $15,828,000 after buying an additional 2,348 shares in the last quarter. Institutional investors and hedge funds own 92.73% of the company’s stock.

Federal Signal Company Profile

Federal Signal Corp. engages in the design and manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment is involved in the manufacture and supply of street sweeper vehicles, sewer cleaners, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.